$100 Billion!
Did you know there's $100 billion languishing in unclaimed money accounts nationwide? Did you also know much of this money is confiscated permanently every month by the holding agencies through a legal process called escheatment because the rightful claimants failed to file valid claims to recover their money before a deadline? In our business we call this "Cash in the Trash". Incredibly, in many cases the rightful claimants had been contacted by asset locators like Cash Recovery Now and informed of the forfeiture but took no action to stop it!
The list of unclaimed asset funds is extensive. To name just a few, there are crime victim restitution funds, failed bank deposits, HUD/FHA refunds, lost oil and gas royalty payments, matured or terminated insurance policies, outstanding or stale-dated checks, surplus auction proceeds, missing tax refunds, dormant savings and checking accounts, uncashed death benefits, uncashed money orders, uncashed payroll checks, unclaimed inheritances, unclaimed utility deposits, unknown trust funds, unredeemed savings bonds and unused gift certificates.
The money belongs to numerous entities. Here are the primary reasons these entities never claim their money:
- They don't know about the money.
- They've been informed about the money but don't believe what they've been told.
- They're hiding the money from creditors, the government, a business partner or a spouse.
- They've hired independent asset locators to look for missing money who are unsuccessful because it's impossible to check all the funds.
How It Works
On the databases we audit there are individuals, partnerships, large and small corporations, churches, LLCs, deceased persons, police departments, law firms, hospitals, physicians, trustees, government agencies, banks, title companies, insurance companies, private organizations and many more.
For reasons too numerous to list, their money has been transferred to numerous unclaimed money accounts, many difficult to find or almost totally hidden from view, where it will remain until claimed or confiscated after a deadline prescribed by law.
We reach out to these rightful claimants to offer our services to recover their money before it's totally lost. Since there are thousands of unclaimed money funds nationwide and the holding agencies rarely trace the rightful recipients, it's very unlikely the lawful claimants would ever discover their unclaimed money without the assistance of asset recovery companies like Cash Recovery Now.
Most people we contact are extremely skeptical when first informed that their money has been languishing in an unclaimed property fund, possibly for many years, so we immediately show them proof and disclose all the other information we've obtained from our research as soon as we receive our client agreement from them. If additional proof is requested, we invite our new clients to contact the agency directly to verify the good news.
Cash Recovery Now is not just a notification service. After we're hired, we research, prepare and file the claims that are required to recover the money. These claims are often very complicated. This tedious work consumes many days of our time but is an essential part of our service.
The Money Recovery Process
Claim procedures vary from agency to agency but all the holding agencies require notarized documents to prove your identity and assure them that we have the legal right to represent you. The affidavits and empowering documents we request are limited in scope and power and pertain only to your claim.
It's totally legal for you to hire us to act as your agent to file the claim on your behalf. In fact, claim departments prefer to work with professionals who understand all the stringent rules and requirements.
The claim process is confusing and cumbersome because the agencies holding unclaimed property have strict requirements that must be followed to the letter before claims are approved and reimbursements are made. As a result, many claims are denied that would have been approved had they been handled correctly.
The claims process is a regulatory labyrinth controlled by bureaucrats strewn with obstacles for unsuspecting claimants so it's judicious to hire a knowledgeable and experienced guide to help you navigate the maze successfully. In fact, because the claim process has so many pitfalls for the unwary, there are many valid reasons why claimants should hire us to pursue their claims even if they do discover on their own the agency that's holding their unclaimed property.
Most claims we file are approved and paid within 30 to 120 days. Disbursements are always made payable to our clients and never to Cash Recovery Now.